2024 Board of Directors Nomination Process
Five positions are open for this election (to be held 3/1/24-4/18/24). All positions are volunteer and non-compensated.
To be considered for the ballot, you must:
Be a current NIHFCU member since at least December 1, 2022
Meet all deadlines and submit your application by November 30, 2023
Be at least 18 years of age as of April 23, 2024
This online application must be completed in one session (partial applications cannot be saved). We recommend reviewing the application before starting.
Email email@example.com with questions. We recommend submitting electronically. You can also submit via email or mail to: NIH Federal Credit Union, Attn: 2024 Nominations, PO Box 6475, Rockville, MD 20849-6475.
Neither the NIHFCU, nor the Nominating Committee (NC), are responsible for failing to receive material by the deadline for any reason. All submissions will become the property of NIHFCU and will not be returned.
The NC will review all applications for completeness, accuracy, and for expertise that will best complement the current Board of Directors.
You must submit your resume/personal vitae with your application and, if requested, references.
You may be asked to be present for an interview to complete the selection process. Failure to provide additional details or to appear for an interview on the date specified or agreed upon may result in forfeiture of consideration.
All decisions of the NC are final. However, if you are not chosen, you may petition to get on the ballot. Petition information will be made available in early January 2024.
Election results will be announced at the April 23, 2024 Annual Meeting, and should you be elected to the Board, your term will begin at our April 25, 2024 Board Meeting.
Please scroll down to read the Board Member Job Description or click below to apply.
Thank you again for your interest.
Board of Directors Job Description
Duties and Responsibilities of the Board of Directors include but may not be limited to:
The Board of Directors is responsible for the general direction and control of the NIHFCU, including ensuring that the credit union operates with the highest ethical standards in conformance with all applicable Federal and State laws and regulations. The Board may delegate operational functions to Senior Management.
Ensures the NIHFCU maintains its sound financial condition;
Reviews and supervises the President /Chief Executive Officer’s progress in achieving goals and objectives;
If necessary, participates in hiring a President/CEO and determines responsibilities and compensation;
Provides strategic leadership and sustains and supports the NIHFCU vision, mission, values, and strategic direction;
Approves the NIHFCU Strategic Plan and ensures that the annual business plan and budget are in line with the strategic plan;
Requests approval of the NIHFCU charter and non-standard bylaw amendments from the National Credit Union Administration (NCUA);
Appoints members to all Board of Director’s Committees;
Approves and oversees of operating policies and procedures to ensure they comply with legal and regulatory requirements and are consistent with the NIHFCU vision and strategic direction;
Meet at least monthly.
General Duties of Each Individual Director. Each Director must:
Carry out his/her duties in good faith, in a manner reasonably believed to be in the best interest of the membership, and with such care, including reasonable inquiry, as an ordinarily prudent person in a like position would use under similar circumstances;
Administer the affairs of the NIHFCU fairly and impartially, and without discrimination in favor of, or against, any particular member;
Within six months of appointment, demonstrate a working familiarity with basic finance and accounting practices, including the ability to read and understand the NIHFCU balance sheet and income statement, and the ability to ask, as appropriate, substantive questions of management and auditors;
Conduct the operations of the NIHFCU in conformity with the Federal Credit Union Act, NCUA’s Rules and Regulations, other applicable laws, and sound business practices;
Review and evaluate information/data prepared or presented by employees or consultants and make inquiries to ensure an understanding of the information/data. A Director may rely on information/data provided by employees or consultants in performing their stewardship and fiduciary responsibilities.
Primary Responsibilities of Each Individual Director. Each Director must:
Understand, support and promote the NIHFCU’s vision, mission, values and strategic direction, and its products and services;
Follow trends and important developments in the financial services industry and NIHFCU’s marketplace. Be aware of local and national economic and social trends, and their possible effects on the NIHFCU;
Contribute proactively and constructively to the Board’s success in carrying out its governance responsibilities as described; hold self and the Board accountable for acting to ensure the long-term competitive success of the NIHFCU
Prepare for, and actively participate in Board and Committee meetings; meet the Board’s established attendance requirements;
Actively participate on at least one standing Board Committee;
Avoid, in fact and in perception, conflicts of interest that might embarrass or call into question the integrity of the Board or the NIHFCU, and disclose to the Board, in a timely manner, any possible conflicts;
Focus attention on long term and significant policy issues but be flexible to focus on short-term administrative matters if/when appropriate;
Respect the responsibility of the President/CEO to manage the staff and operations of the NIHFCU. Ensure that any communication with staff below the President/CEO level does not undermine the relationship between the President/CEO and the staff or Board;
Demonstrate a willingness to learn, fulfill the educational requirements established by the Board, and attend and participate in conferences and educational workshops;
Take advantage of opportunities to enhance the NIHFCU’s public image and market its services in the community and with sponsor officials;
Respect the confidentiality of members’ business with the NIHFCU;
Act at all times in the best interests of member-owners and -customers.
Knowledge, Skills, and Abilities of a Director
Maintain NIHFCU membership in good standing and meet all NCUA-established Director requirements as noted in Section 1761 of the Federal Credit Union Act. Adhere to requirements of the NIHFCU Bylaws, as enacted and modified;
Professional background in a discipline important to the NIHFCU’s success, e.g., finance, planning, marketing, customer service delivery, human resources, information systems, etc.;
Familiarity with the financial services industry, and an understanding of the basics of the business, and how a credit union achieves profitability, builds capital, develops and prices products, delivers service, and in general, mediates between savers and borrowers;
Willingness to commit time and actively participate, both in attendance and in meeting contributions;
Ability to balance the need for managing the NIHFCU as a business with the need to understand and be responsive to the short and long-term interests of the NIHFCU’s members and customers;
Commitment to the ideals and values of the credit union movement, and desire to contribute to the movement’s continued viability and growth.